Affordable Multifamily
For Sale
Contact for pricing
Pending
3301 Valentine Lane SE, Port Orchard, WA 98366
25-unit affordable housing community built in 1995 with hard-surface flooring and recent unit and exterior improvements.
Property SizeContact for details
Days on Market132
Property Features for 3301 Valentine Lane SE
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
25
Building Details
Year Built
1995
Listing Agency:
Crain Real Estate
(425) 482-6100
Listed By:
Corey Crain · License #WA 26492
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Aug 20 at 11:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crain Real Estate
Investment Insights
Based on property information with market context.
Lund Pointe Apartments is a 25-unit affordable housing community originally placed into service in 1995 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. Recent improvements include new flooring in 95% of the units, with hard-surface floors throughout and no carpet, along with new cabinets in many units, new exterior paint, a new gutter system, and new landscaping.
The property has an existing regulatory agreement in place requiring 24 units to be rented to income-qualifying residents at or below 50% and 60% of Area Medium Income (AMI) limits as provided by the Washington State Housing Finance Commission. There is one additional unit rented at market rate, and the property is adjoined by approximately 1,000 square feet of office/maintenance space. The property is out of its initial tax credit compliance period, and a qualified purchaser must agree to maintain the affordability restrictions.
The property has an existing regulatory agreement in place requiring 24 units to be rented to income-qualifying residents at or below 50% and 60% of Area Medium Income (AMI) limits as provided by the Washington State Housing Finance Commission. There is one additional unit rented at market rate, and the property is adjoined by approximately 1,000 square feet of office/maintenance space. The property is out of its initial tax credit compliance period, and a qualified purchaser must agree to maintain the affordability restrictions.
Key Highlights
- 25‑unit affordable housing community built in 1995, placed into service under the Section 42 LIHTC program
- Recent improvements include new flooring in 95% of units (all hard‑surface, no carpet), plus new cabinets in many units
- Exterior upgrades completed in the past year include new exterior paint, new gutter system, and new landscaping
Property Analytics
Current Use
Lease Details
25
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 98366, WA
36,969
Population
15,391
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
94%
High-School Grad
23.4 sq mi
ZIP Area
1,580
Density / Sq Mi
$88,807
Median Household Income
$51,884
Median Earnings
$1,704
Median Rent
$449,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 25-unit affordable housing community built in 1995 with hard-surface flooring and recent unit and exterior improvements.
Where is this apartment building located?
The property is located at 3301 Valentine Lane SE Port Orchard, WA.
What are key features of this property?
This property features: 25‑unit affordable housing community built in 1995, placed into service under the Section 42 LIHTC program; Recent improvements include new flooring in 95% of units (all hard‑surface, no carpet), plus new cabinets in many units; Exterior upgrades completed in the past year include new exterior paint, new gutter system, and new landscaping
